World Kinect (WKC) investor relations material

Executive summary

• Leadership transition completed with new CEO, CFO, and President, emphasizing accountability and long-term value creation, and entering 2026 with a strong foundation.

• Strategic focus on simplifying the business, sharpening the portfolio, and enhancing operational efficiency for sustainable growth, including repositioning the Land segment and acquiring Universal Weather and Aviation's Trip Support Services.

• Major portfolio transformation underway, with exits from non-core and underperforming businesses, especially in the land segment.

• Q4 and full-year 2025 results fell short of expectations, with net losses driven by impairments and restructuring, but core businesses performed as anticipated.

Financial highlights

• Q4 2025 consolidated volume was 4.24 billion gallons, down 5% year-over-year; full-year volume was 16.92 billion gallons, down 4%.

• Q4 2025 gross profit was $235 million, down 9% year-over-year; full-year gross profit was $948 million, down 7.7%.

• Q4 2025 net loss was $280 million ($5.11/share); full-year net loss was $614 million ($10.99/share); adjusted net income for Q4 was $17 million ($0.30/share), and for the year $107 million ($1.91/share).

• Q4 adjusted operating expenses were $186 million, down 6% year-over-year; full-year adjusted operating expenses were $718 million, down 7%.

• Q4 operating cash flow was $34 million; free cash flow was $13 million. Full-year operating cash flow was $293 million; free cash flow was $227 million.

Outlook and guidance

• 2026 adjusted diluted EPS guidance set at $2.20–$2.40, reflecting expected year-over-year growth, share repurchases, and the full-year impact of the Universal TSS acquisition.

• Q1 2026 consolidated gross profit and EPS expected to be down year-over-year and flat sequentially, mainly due to land segment exits.

• Adjusted operating income in land expected to nearly double in 2026, with operating margin approaching 30%.

• Continued improvement anticipated in land and aviation segments, with marine providing upside if market volatility increases.